According to the Philippine Statistics Authority, there were 7.5 million senior citizens in the country, accounting for 7.5 percent of the total population, as of its latest census in 2015
Assumptions about the economic impact of demographic aging
Slow down in population growth will result in reduced number of new labor force entrants
Increased ratio of the elderly to below-retirement age workers will make it difficult for the labor sector to maintain productivity levels to support the growing aged population
Rising life expectancy, and spiraling medical costs makes it harder for the labor for to maintain present standards of living
Need to allocate more tax pesos for pension system
Quality of care afforded to older adults with medical conditions is substandard
Older individuals of lower SES have increased mortality rates, higher stroke incidence, higher incidence of progressive chronic kidney disease, lower health related quality of life, smaller social networks and lower quality of social relations
Older persons with less than a high school education are at a greater risk for depression
Older persons living in poor neighbourhoods are more likely to have underdeveloped and poorly integrated social networks
Socio-cultural factors that may affect the risk of elder maltreatment
Byproducts of metabolism (free radicals) accumulate and prevent proteins and other essential molecules from functioning properly, damaging cell membranes
Free radicals are byproducts of metabolism, charged molecules with unpaired electrons that react and interact with other molecules during normal metabolism and "steal" electrons from other molecules causing "oxidation"
When free radicals accumulate, it prevents proteins and other essential molecules from functioning properly and damages the cell membrane decreasing its efficiency
Chemicals that prevent the formation of free radicals and neutralize free radicals, which damage cells, clog arteries and contribute to chronic illness and aging